Q3 2024 EPS Estimates for Genuine Parts (NYSE:GPC) Lifted by Analyst

Genuine Parts (NYSE:GPC) – Wedbush raised their Q3 2024 earnings per share estimates for Genuine Parts in a research report issued on Friday, April 19th. Wedbush analyst S. Basham now forecasts that the specialty retailer will post earnings of $2.64 per share for the quarter, up from their previous estimate of $2.63. Wedbush has a “Neutral” rating and a $170.00 price objective on the stock. The consensus estimate for Genuine Parts’ current full-year earnings is $9.86 per share. Wedbush also issued estimates for Genuine Parts’ FY2024 earnings at $9.88 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.73 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $2.65 EPS and FY2026 earnings at $11.33 EPS.

A number of other equities analysts have also weighed in on the company. Evercore ISI dropped their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Truist Financial increased their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Performance

NYSE GPC opened at $162.39 on Monday. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 18.10 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $150.30 and a 200-day moving average price of $142.35. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.14 earnings per share.

Institutional Investors Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank purchased a new stake in shares of Genuine Parts in the second quarter worth approximately $190,000. Sunbelt Securities Inc. raised its holdings in shares of Genuine Parts by 122.2% in the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after buying an additional 88 shares during the period. WD Rutherford LLC purchased a new stake in shares of Genuine Parts in the first quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Genuine Parts in the third quarter worth approximately $25,000. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Genuine Parts in the second quarter worth approximately $31,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. Genuine Parts’s dividend payout ratio is 44.59%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.